Following ISED's residual auction for unsold spectrum, TELUS secures key mid-band spectrum to support and power our growing customer base and continued network evolution for the benefit of Canadians

VANCOUVER, BC, Feb. 9, 2026 /CNW/ - TELUS today announced the acquisition of new 3800 MHz spectrum licences in B.C. and Alberta at a cost of $317.6 million. These licences – purchased during ISED's Residual Auction – will enable TELUS to deliver enhanced 5G wireless broadband connectivity to its customers and will continue to optimize the network speeds Canadians have come to expect.

"In alignment with our commitment to always be building Canada, the acquisition and deployment of this spectrum will further enhance the advancement of our 5G growth strategy and the globally leading network quality, speed and coverage we provide to Canadians," said Darren Entwistle, TELUS President and CEO. "Importantly, this spectrum will complement TELUS' existing holdings to support emerging 5G applications that our team is progressing and that enable mission critical applications with dedicated and secure resources, such as public safety advanced communications, industry automation and private wireless networks, as well as real-time, high availability services for AI applications. Indeed, as the demand for wireless data continues to grow, the acquisition of additional 3800 MHz spectrum will maximize our network capacity and enable TELUS to deliver enhanced urban and rural connectivity to our customers. In addition to allowing us to invest in strategic growth within B.C. and Alberta, TELUS' investment reflects our commitment to fiscal discipline as the acquisition of these valuable spectrum assets are consistent with our capital plan. Importantly, there will be no impact to our deleveraging plan, with 2025 net debt to adjusted EBITDA currently at 3.4-times, as we aim to reach circa 3.3-times or lower by year-end 2026, and 3.0-times or better by the end of 2027."

The Residual Spectrum auction was designed to sell spectrum that remained unsold from previous auctions, with the majority of this leftover spectrum located in B.C. and Alberta. Among all participants in the auction, TELUS successfully obtained the most spectrum at an attractive price. This positions TELUS as an industry leader with an average of 104 MHz of prime 5G mid-band spectrum in the 3500 and 3800 MHz bands nationally, acquired for an average price of $0.82 per MHz-pop. This will further support TELUS' efforts to always be building Canada.

The 3800 MHz band is mid-range spectrum that has become the critical global band for 5G innovation, as it offers the best combination of speed – due to its wide channels – and coverage. Its frequency can support large numbers of mobile data connections and still cover large areas, making it highly conducive to 5G deployment.

Forward-Looking Statements

This media release contains statements about future events, including with respect to spectrum deployment and network build-out plans, and regarding our deleveraging plan and projected net debt to adjusted EBITDA ratio. By their nature, forward-looking statements require the company to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors (such as regulatory and government decisions, the competitive environment, our earnings and free cash flow, and capital expenditures and spectrum licence purchases) could cause actual future performance and events to differ materially from that expressed in the forward looking statements. These statements are made pursuant to the "safe harbour" provisions of applicable securities laws in Canada and the United States Private Securities Litigation Reform Act of 1995. Disclosure regarding our financial targets is presented for the purpose of assisting our investors and others in understanding certain key elements of our expected financial results as well as our objectives, strategic priorities and business outlook. Such information may not be appropriate for other purposes. Accordingly, this news release is subject to the disclaimer and the qualifications and should be read together with the risk factors and assumptions set out in our 2024 annual management's discussion and analysis ("MD&A"), and updated in our third quarter 2025 MD&A, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at sedarplus.ca) and in the United States (on EDGAR at sec.gov).

The forward-looking statements contained in this news release describe our expectations at the date of this news release and are subject to change after such date. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.

About TELUS
TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed $1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company.

We're always building Canada.

For more information, visit telus.com or follow @TELUSNews on X and @Darren_Entwistle on Instagram.

For more information, please contact:

Richard Gilhooley
TELUS Public Relations
778-868-0235
richard.gilhooley@telus.com

SOURCE TELUS Communications Inc.